FREQUENTLY ASKED QUESTIONS
In order to stop exploitation of allottees at the hands of Builder/Promoter so also
to protect the rights of the Builder/Promoter from the allottees who trouble them
financially and to bring transparency in overall transaction between the
Builder/Promoter and allottees.
The following are objectives of RERA:
- To ensure accountability of Promoter/Builder towards home - buyers and to protect their interest;
- To infuse transparency, ensure fair-play and reduce frauds & unnecessary delays;
- For imposing certain responsibilities on both Promoter/Builder and Home/buyers;
- To establish fast- track dispute resolution mechanism;
- To establish symmetry of information between the promoter and home - buyers.
Yes. Every real estate project which has a land area of more than 500 sq. mts. or
has more than 8 apartments needs to be registered with RERA Authority.
Registration shall be valid till the date as mentioned on their RERA Profile.
The Builder/Promoter/Developer is required to make declarations with respect to the
title of project land and duration in which project is proposed to be completed.
Carpet area is the net usable floor area of an apartment excluding the area covered
by the external walls, area under service shafts, exclusive balcony area and open
terrace area but includes the area covered by internal partition walls of the
apartment. It is important to mention carpet area is that the home-buyer should know
what is he paying for and in return what he will receive and to maintain
transparency in sale-purchase transaction.
An allottee is a person to whom a plot or apartment / unit is allotted by the
Builder / Promoter / Developer for consideration and includes the person who
subsequently acquires the plot or apartment/unit but does not include the person to
whom plot or apartment / unit is given on rent.
The allottees have two remedies i.e.
1) To withdraw from the project and seek a refund of total amount paid towards consideration a/w. interest &
2) To continue in the project and claim interest for delayed possession. If the Builder/Promoter fails to comply with the demand of the above remedies, then the allottees can avail these remedies by filing a complaint before RERA Authority.
1) To withdraw from the project and seek a refund of total amount paid towards consideration a/w. interest &
2) To continue in the project and claim interest for delayed possession. If the Builder/Promoter fails to comply with the demand of the above remedies, then the allottees can avail these remedies by filing a complaint before RERA Authority.
If the possession date is not mentioned in an agreement for sale then the possession
date mentioned in the agreements of other allottees shall be considered.
The Builder / Promoter / Developer can accept only 10% of the total consideration
amount
from an allottee before registration of Agreement for Sale.
Any aggrieved person in a real estate project can file a complaint before
Maharashtra Real Estate Regulatory Authority i.e., MahaRERA
As per the RERA it is expected to dispose off the complaint within 60 days from the
date of filing however, it depends upon the volume of complaint and availability of
presiding officer.
The allottee can take out Execution Application against the
Builder / Developer / Promoter after 60 days of date of order passed by MahaRERA.
Yes, it can be if the Builder / Developer violates the terms and guidelines given
under RERA.
Appeal can be filed before the ‘Maharashtra Real Estate Appellate Tribunal’ against
the order passed by MahaRERA by aggrieved party.
Within 60 days from the date of Order aggrieved party can file an Appeal.
A Developer/ Promoter/ Builder has to mandatorily deposit 100% of the amount ordered
by MahaRERA in its Order in Appellate Tribunal
Promoter has to enable formation of society or any other legal entity within three
months from the date when 51% of the total units are booked.
The allottees can approach MahaRERA by filing complaint seeking direction against
the Builder / Promoter / Developer. Also, the allottees on their own can take the
initiative to form society / association.
Yes, allottee is entitled to a few rights against the Builder / Promoter / Developer
even after taking possession such as claiming repairs for structural defects in the
Unit within 5 years from taking possession and also seeking interest for delayed
possession if possession taken under protest.
Completion Certificate certifies that the construction of the real estate project is
fully completed whereas Occupancy Certificate certifies that that building
constructed is fit and ready for occupation.
As per the Real Estate Regulatory Authority (RERA) Act, 2016, all the projects for
which Completion Certificate and Occupancy Certificate are issued by competent
authority are exempted from the purview of the RERA Act.
All ongoing real estate projects are required to be registered with RERA authority
except those whose project land admeasures less than 500 Sq.Mtrs or which consist of
units not more than 8.
If any promoter fails to register a real estate project, then he shall be liable to
a penalty which may extend up to ten per cent of the estimated cost of the real
estate project. And on continued violation, he shall be punishable with imprisonment
for a term which may extend up to three years or with fine which may extend up to a
further ten per cent of the estimated cost of the real estate project, or with both.
No, Civil Courts are barred from entertaining disputes (suits or proceedings) in
respect of matters for which Authorities appointed under RERA are empowered to deal
with under the Act.
Yes, Completion date mentioned at the time of registration can be changed by the
Builder / Promoter / Developer by making an Extension Application to RERA Authority
by
following due procedure of law.
The Builder / Promoter / Developer is required to obtain written consent of 51% of
allottees of the project.
Yes, the Builder / Promoter / Developer can change layout plan of a real estate
project
by making a Correction Application to RERA Authority by following due process of
law.
The Builder / Promoter / Developer is required to obtain 2 / 3rd consent of
allottees of
the project in writing.
Yes, Promoter of a real estate project can be changed once the existing promoter
appoints new promoter by making an application to RERA authority by following due
process of law.
The Builder / Promoter / Developer is required to obtain 2/3rd consent of allottees
of the project in writing
Landowners are persons on whose land a real estate project is developed by the
Builder / Promoter / Developer. Therefore, Landowners are also considered as
promoters of a real estate project.
No, as per provisions of RERA, the Builder/Promoter/Developer is permitted to
advertise/promote real estate project only after the project is registered with RERA
authority.
No. A real estate project whose registration is expired is more or less an
unregistered project and thus, a project which is not registered cannot be
advertised/promoted by the Builder/Promoter/Developer.
As per RERA, the Builder/Promoter/Developer can sell covered parking and garages in
a real estate project however, he cannot sell open car parking, he can only allot
open car parking.
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